Start of manufacturing and revenue recognition for a large-scale production line project

「For solar cell manufacturing equipment, we generated sales mainly from equipment relocation projects from Southeast Asian plants and modification projects for a major U.S. solar cell manufacturer’s new plant in South Carolina, as well as perovskite development equipment for domestic companies.」

「For solar cell manufacturing equipment, revenue was recognized mainly on projects for new factories, perovskite development equipment, additional equipment and modification projects for a major customer, a US solar cell manufacturer.」

「In the equipment-related business, although some projects shifted into the fiscal year ending August 2025 due to the timing of acceptance inspections for on-site work, equipment for factory expansions, new factories and development was sold as scheduled to a major customer, a US solar cell manufacturer.」

「In the equipment-related business, revenue was ¥4,717 million, a decrease of ¥249 million year on year, and operating profit was ¥1,494 million, an increase of ¥641 million. This was due mainly to the scheduled recognition of revenue from equipment for the expansion of a U.S. solar cell manufacturer’s plants and research and development equipment, as well as strong sales of consumables and spare parts, partly because the customer’s plant utilization rate continued at a high level.」

「In the equipment-related business, revenue was ¥3,329 million, a decrease of ¥666 million year on year, and operating profit was ¥995 million, an increase of ¥484 million. Revenue mainly reflected the scheduled recognition of equipment for the expansion of a U.S. solar cell manufacturer’s plants. Sales of consumables and spare parts also remained strong, partly because the customer’s plant utilization rate continued at a high level, bringing revenue slightly above the initial plan. Operating profit exceeded plan because of cost reductions, including lower procurement costs, and strong parts sales.」

「Revenue was slightly higher than planned because some modification projects were brought forward and parts sales increased.」

「In the equipment-related business, revenue was ¥4,966 million, an increase of ¥1,162 million year on year, and operating profit was ¥852 million, a decrease of ¥92 million. This was due mainly to revenue recognition for equipment sold to U.S. solar cell manufacturers, strong sales of factory automation equipment and parts to Japan’s electronic components industry, and the maintenance of a certain margin through lower procurement costs, cost reductions in manufacturing processes and on-site work, and higher parts sales.」

「In the equipment-related business, revenue was ¥3,996 million, up ¥2,574 million year on year but below forecast, while operating profit was ¥511 million, up ¥221 million year on year and above forecast. This was due mainly to sales to solar cell manufacturers in the United States and Japan and to Japan’s electronic components industry, although revenue from some projects was recognized in the second half. Profit increased because of lower procurement costs, cost reductions in manufacturing processes and on-site work, and higher parts sales.」

「Equipment-related business 6,241,300 116.4 7,943,708 137.1」

「In the equipment-related business, revenue was ¥3,803 million, a decrease of ¥3,130 million year on year, and operating profit was ¥945 million, a decrease of ¥744 million. This was due to expansions and modifications of equipment for a major U.S. solar cell manufacturer, revenue recognition for solar cell manufacturing equipment sold to a domestic solar cell manufacturer, and revenue recognition for factory automation equipment sold to customers in Japan’s electronic components, automotive and other industries, with which the company has stable business relationships.」

「This was due to setup and modification work on equipment for U.S. solar cell manufacturers, including the major customer, and revenue recognition for factory automation equipment sold mainly to Japan’s electronic components industry, while revenue recognition for some solar cell manufacturing equipment and factory automation equipment projects was pushed back.」

「For solar cell manufacturing equipment, we will provide equipment and services tailored to the needs of our major customer, a U.S. solar cell manufacturer, for new plants in the United States and India that the customer plans to build from 2022 to 2023. We will also provide post-delivery support and modifications for equipment already delivered to the customer’s plants, building up an ongoing business.」

「In the equipment-related business, revenue was ¥4,322 million, an increase of ¥906 million year on year, and operating profit was ¥1,206 million, an increase of ¥571 million. This was due to modifications, expansions and startup work on equipment delivered for the production lines of a U.S. solar cell manufacturer, revenue recognition for factory automation equipment sold mainly to Japan’s electronic components industry, and improved margins from cost reductions.」

「This was due to the setup, expansion and modification of lines delivered to a U.S. solar panel manufacturer, which improved margins through cost reductions, while revenue recognition for some solar cell manufacturing equipment projects was pushed back to the second half, causing revenue to fall below the initial plan.」

「In the equipment-related business, revenue from a large new line for a major U.S. customer, a solar cell manufacturer, was recognized as scheduled, and parts sales remained solid.」

「This was due to the scheduled recognition of revenue from the expansion of an existing line for a U.S. solar panel manufacturer, steady parts sales, and sales of factory automation equipment to the automotive and electronic components industries.」

「Revenue was ¥1,864 million, an increase of ¥65 million year on year. Revenue from an expansion of an existing line for a U.S. solar panel manufacturer was recognized as scheduled, and parts sales also remained solid.」

「The company planned for performance to be weighted toward the second half of the fiscal year. Because the first quarter of the current consolidated fiscal year focused mainly on manufacturing large lines scheduled for revenue recognition in the second half, performance for the quarter was broadly in line with the initial plan.」

「In the equipment-related business, large lines for a major U.S. customer in the solar cell industry were recognized as revenue smoothly and as scheduled. Results outside the solar cell industry also expanded, and parts sales were strong, resulting in revenue of ¥6,402 million, an increase of ¥236 million from the previous fiscal year.」

「In the equipment-related business, large lines for a major U.S. customer in the solar cell industry, as well as automation and labor-saving equipment, were recognized as revenue smoothly. Parts sales were also strong, resulting in revenue of ¥6,165 million, an increase of ¥1,644 million from the previous fiscal year.」

「In the equipment-related business, revenue from the third and fourth large line projects was recognized as scheduled, along with revenue from modification projects and other equipment, resulting in revenue of ¥4,521 million.」

「In the equipment-related business, revenue from large line projects was recognized as scheduled, and revenue from modification projects and other projects was also recognized, resulting in revenue of ¥3,727 million.」

「Under these circumstances, in the equipment-related business, the revenue recognition date for part of the large projects was brought forward and the revenue was recognized in the second quarter of the current consolidated fiscal year. As a result, revenue for the cumulative second quarter of the current consolidated fiscal year was ¥2,277 million, an increase of ¥1,589 million year on year.」

「Revenue from two lines and other equipment under large solar cell manufacturing equipment projects was recognized as scheduled.」

「For a large line project in the equipment-related business, finalizing the customer’s specifications took longer than expected, which delayed the start of equipment production from the original schedule. Accordingly, revenue is expected to be recognized from the fourth quarter of the current fiscal year.」